Business
Executive Chairman of Everyday People Increases Share Ownership by Another 2,223,651 Shares at a Price of $0.63 per Share by Way of Debt Settlement
Edmonton, Alberta--(Newsfile Corp. - June 30, 2025) - Everyday People Financial Corp. (TSXV: EPF...
About this update from Everyday People Financial Inc
[{"type":"text","content":"Executive Chairman of Everyday People Increases Share Ownership by Another 2,223,651 Shares at a Price of $0.63 per Share by Way of Debt SettlementEdmonton, Alberta--(Newsfile Corp. - June 30, 2025) - Everyday People Financial Corp. (TSXV: EPF) (OTCQB: EPFCF) (\"Everyday People\" or the \"Company\"), a technology-driven financial services provider, is pleased to announce that it has entered into an agreement to settle an additional $1.4 million of outstanding debt owed to EAM Enterprises Inc. (\"EAM\") through the issuance of common shares (the \"Debt Settlement\").This latest transaction follows prior debt settlements with EAM, whereby the Company settled $2 million and $4 million of outstanding debt through the issuance of 2,439,024 shares at $0.82 per share and 3,636,364 shares at $1.10 per share, respectively, as announced on January 20 and January 29, 2025. This debt was originally advanced by the Company's Executive Chairman, Gordon Reykdal, through his family-owned entity, EAM, as part of his continued commitment to support the Company's development and growth. The Debt Settlement reflects the Company's ongoing efforts to strengthen its balance sheet by reducing liabilities and preserving cash resources to support operations and strategic growth.\"We remain deeply grateful to Gordon for his ongoing support and belief in the long-term vision of the Company,\" said Barret Reykdal, Co-CEO. \"The past two transactions, together with the current Debt Settlement, reflect Gordon's continued commitment to the Company's financial health and strategic growth, and align his long-term interests with those of Everyday People's shareholders.\" Debt Settlement DetailsThe Company intends to settle approximately $1.4 million of outstanding debt through the issuance of 2,223,651 common shares (the \"Settlement Shares\") to EAM at a price per share of $0.63 to settle the outstanding debt.The Settlement Shares will be issued as a non-arm's length transaction, as EAM is a company controlled by Gordon Reykdal, Executive Chairman and Director of the Company. Currently, EAM together with Gordon Reykdal owned 21.8% of the Company's issued and outstanding common shares. Upon completion of the Debt Settlement, EAM together with Gordon Reykdal will hold 23.2% of the Company's issued and outstanding common shares. The Debt Settlement will not result ...